Washington DC [US], October 22 : Trump is optimistic about the trade deal with China and plans to meet with Chinese President Xi Jinping in two weeks.
Speaking at a lunch with Senate Republicans at the newly renovated Rose Garden of the White House on Tuesday (local time), Trump signalled a positive tone ahead of the anticipated high-level meeting.
"I'm going to see President Xi in two weeks. I am going over to South Korea. We're going to meet in South Korea. We're going to talk about a lot of things," Trump said.
The US President also highlighted ongoing tariff discussions between the two economic powerhouses, suggesting that Beijing was concerned about the level of tariffs imposed by the US.
"They want to discuss the fact that they're paying a 157 per cent tariff. It's a little higher than they thought," he said, adding, "We're doing very well. I think we're going to do well in that negotiation."
Trump's remark comes a day after he issued a stern warning to China, stating that a steep tariff of up to 155 per cent could be imposed starting November 1 if a trade deal is not reached between the two countries.
Speaking at the White House during a high-level meeting with Australian Prime Minister Anthony Albanese on Monday (local time), Trump, despite the trade tensions between the two nations, stated that Beijing has been "very respectful" of Washington and that they are paying "tremendous amounts of money" on the backs of the 55 per cent tariffs levied on their goods to the US.
"I think China's been very respectful of us. They are paying tremendous amounts of money to us in the form of tariffs. As you know, they are paying 55 per cent; that's a lot of money," Trump said.
The US President also added that many countries had previously taken advantage of the United States but emphasised that such practices were no longer tolerated.
"A lot of countries took advantage of the US, and they are not able to take advantage anymore. China's paying 55 per cent and a potential 155 per cent come November 1st unless we make a deal," he said.
Earlier, Trump, in a post on Truth Social, announced an additional 100 per cent tariff on Chinese goods "over and above any tariff that they are currently paying", effective November 1.
The US President noted that the decision was taken after what he described as China taking "an extraordinarily aggressive position on trade" by sending "an extremely hostile letter to the world".
He also said that export controls will be placed on all critical software starting the same day.
"Based on the fact that China has taken this unprecedented position, and speaking only for the USA, and not other Nations who were similarly threatened, starting November 1, 2025 (or sooner, depending on any further actions or changes taken by China), the United States of America will impose a Tariff of 100% on China, over and above any Tariff that they are currently paying. Also on November 1, we will impose Export Controls on any and all critical software," his post read.
"It has just been learnt that China has taken an extraordinarily aggressive position on trade in sending an extremely hostile letter to the world, stating that they were going to, effective November 1, 2025, impose large-scale Export Controls on virtually every product they make, and some not even made by them. This affects ALL Countries, without exception, and was obviously a plan devised by them years ago. It is absolutely unheard of in International Trade, and a moral disgrace in dealing with other Nations," it added.
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